X Financial (NYSE:XYF) Trading 2.3% Higher – Here’s What Happened

Shares of X Financial Sponsored ADR (NYSE:XYF) were up 2.3% during trading on Thursday . The company traded as high as $4.88 and last traded at $4.81. Approximately 58,643 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 123,980 shares. The stock had previously closed at $4.70.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of X Financial in a report on Monday, May 4th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

X Financial Trading Up 2.3%

The company has a market capitalization of $188.02 million, a PE ratio of 1.39 and a beta of 0.56. The company has a fifty day simple moving average of $4.79 and a 200-day simple moving average of $5.24.

X Financial Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, May 20th. Stockholders of record on Thursday, April 30th were given a dividend of $0.2802 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a dividend yield of 1,191.0%. X Financial’s payout ratio is presently 15.65%.

Institutional Investors Weigh In On X Financial

Several hedge funds and other institutional investors have recently bought and sold shares of XYF. BNP Paribas Financial Markets purchased a new position in X Financial during the third quarter worth about $105,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of X Financial in the 4th quarter valued at approximately $43,000. Russell Investments Group Ltd. grew its stake in shares of X Financial by 468.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 33,780 shares of the company’s stock valued at $457,000 after buying an additional 27,837 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of X Financial during the 2nd quarter worth approximately $697,000. 1.15% of the stock is currently owned by institutional investors and hedge funds.

About X Financial

X Financial (NYSE:XYF) is a Beijing-based online credit marketplace focused on providing diversified financing solutions to individuals and small- and medium-sized enterprises (SMEs) in China. The company was established in 2014 and completed its initial public offering on the New York Stock Exchange in 2016. Since inception, X Financial has built a technology-driven platform that connects borrowers with a network of institutional investors, banks and other funding sources, aiming to streamline access to credit and improve lending efficiency.

The company’s core offerings include consumer loans, SME loans, real estate-secured financing and wealth management products.